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department of the government. neb national accountability bureau and its chairman retired admiral for siebel heidi this is appointed by the president of pakistan mr zardari himself he has stated in his press conference and he has issued his or fishel nebbe statement that five thousand billion rupees but n m. are going in corruption so these are the facts and figures given by the government department. and at the same time it is declared and it is not be naive that salman two percent of the members of the parliament of pakistan the decks of radio. they don't bother to file their tax returns they conceal their source of income. sold the corruption there is nobody can deny this reality so out of this martin movement is anti corruption to educate our society from corruption and this is need of the whole muslim world and hold third world and developing muslim countries the have to get to the end of corruption and corrupt leaders we have to get rid of decks of aid and then lawbreakers this is why we have started this st
department of the government. neb national accountability bureau and its chairman retired admiral for siebel heidi this is appointed by the president of pakistan mr zardari himself he has stated in his press conference and he has issued his or fishel nebbe statement that five thousand billion rupees but n m. are going in corruption so these are the facts and figures given by the government department. and at the same time it is declared and it is not be naive that salman two percent of the...
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Jan 18, 2013
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liz: our government has money to pay the bills for about another month, but the house is going to vote just next week on raising the debt ceiling, at least temporarily. is there a real chance we won't need to wait till the last minute for a deal? we will have the latest. david: interesting novel concept. plus, reaction from a member of congress who is looking to say good-bye to the debt ceiling all together. that representative is going to be here for a debate coming up. liz: while the battle wages in washington, you could be profiting. i mean, listen, come on, don't wait. find out how you can trade the debt ceiling. there is a way. keep it right here on fox business. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidanc
liz: our government has money to pay the bills for about another month, but the house is going to vote just next week on raising the debt ceiling, at least temporarily. is there a real chance we won't need to wait till the last minute for a deal? we will have the latest. david: interesting novel concept. plus, reaction from a member of congress who is looking to say good-bye to the debt ceiling all together. that representative is going to be here for a debate coming up. liz: while the battle...
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Jan 18, 2013
01/13
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it is not just state and local governments, corporations. in fact a t and t is not the only company we're looking at. basically you are seeing big names, 100 top corporate pension funds are underfunded, record deficits. here are some of the names of the companies that are grappling with big fat pension costs. you are going to see adm, caterpillar, alcoa in here, underfunding on the order of 412 billion dollars for these companies. mercer came up with similar results, 557 record billion dollars deficits in the s&p 1500. and what we're talking about is what's going to happen down the road. investors are going to see these weird bookkeeping charges that are just paper charges, not cash charges just yet meaning they are going to be tossing their own company stock in there to do whatever they can to pay for the returns that are underperforming in their pension plans. i have to tell you something, these companies, do you know who they are blaming? the federal reserve. they are blaming low interest rate policies for ruining their expected rates of
it is not just state and local governments, corporations. in fact a t and t is not the only company we're looking at. basically you are seeing big names, 100 top corporate pension funds are underfunded, record deficits. here are some of the names of the companies that are grappling with big fat pension costs. you are going to see adm, caterpillar, alcoa in here, underfunding on the order of 412 billion dollars for these companies. mercer came up with similar results, 557 record billion dollars...
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Jan 19, 2013
01/13
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if the federal government increases the money supply faster than productivity you're going to see inflation. and that's what we're seeing in food right now because the fed's been increasing the money supply greatly. >> tom: john, let me ask you about the investor class as a stakeholder. whole foods stock is up 16% year over year. is the stock price the clearest expressionave company value? >> maybe not always in the short term. i think as ben graham once said, in the short term the stock market is a voting machine. but in the long run, it's a weighing machine. so i do think sometimes stock prices get out of whack from the intrinsic value of a company. but it tend to correct itself. so it can swing wildly in one direction or the other but it will correct itself. so i don't know-- it's certainly an important indicator. i don't know if it's the best indicator. but you need to pay attention to it if you're a public company. >> tom: you certainly do, as you do, certainly, as want co-c.e.o. of whole foods. john mackey, the coauthor of "conscious capitalism." >> susie: president obama will take th
if the federal government increases the money supply faster than productivity you're going to see inflation. and that's what we're seeing in food right now because the fed's been increasing the money supply greatly. >> tom: john, let me ask you about the investor class as a stakeholder. whole foods stock is up 16% year over year. is the stock price the clearest expressionave company value? >> maybe not always in the short term. i think as ben graham once said, in the short term the...
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Jan 19, 2013
01/13
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if the federal government increases the money supply faster than productivity you're going to see inflation. and that's what we're seeing in food right now because the fed's been increasing the money supply greatly. >> tom: john, let me ask you about the investor class as a stakeholder. whole foods stock is up 16% year over year. is the stock price the clearest expressionave company value? >> maybe not always in the short term. i think as ben graham once said in the short term the stock market is a voting machine. but in the long run it's a weighing machine. so i do think sometimes stock prices get out of whack from the intrinsic value of a company. but it tend to correct itself. so it can swing wildly in one direction or the other but it will correct itself. so i don't know-- it's certainly an important indicator. i don't know if it's the best indicator. but you need to pay attention to it if you're a public company. >> tom: you certainly do, as you do, certainly as want co-c.e.o. of whole foods. john mackey, the coauthor of "conscious capitalism." >> susie: president obama will take the o
if the federal government increases the money supply faster than productivity you're going to see inflation. and that's what we're seeing in food right now because the fed's been increasing the money supply greatly. >> tom: john, let me ask you about the investor class as a stakeholder. whole foods stock is up 16% year over year. is the stock price the clearest expressionave company value? >> maybe not always in the short term. i think as ben graham once said in the short term the...
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Jan 15, 2013
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and they are viewed, especially government funds, and the retail investor i think is in a situation where there are lot oss of small accounts. continued it would take a huge number of accounts to really cause a problem without the fund. >> tom: a multitrillion dollar market, bob pozen with us from harvard business school. thanks, bob. >> thanks for having me. >> susie: some big wins for general motors on the first day of the north american international auto show in detroit. gm's cadillac ats took home "car of the year" honors at the show's kick-off event. the award is the latest in a string of accolades for the ats. cadillac's luxury compact sports sedan is the lightest car in its class. g.m. also unveiled its latest edition of the chevy corvette. the seventh generation model brings back the stingray nameplate, which baby-boomers will remember last from the 1970s. g.m. hopes the sleeker model will get corvette lovers to upgrade, while also attracting younger buyers. >> we also want to expand the owner base maybe to a younger audience those in their early 40's if you say who are looking t
and they are viewed, especially government funds, and the retail investor i think is in a situation where there are lot oss of small accounts. continued it would take a huge number of accounts to really cause a problem without the fund. >> tom: a multitrillion dollar market, bob pozen with us from harvard business school. thanks, bob. >> thanks for having me. >> susie: some big wins for general motors on the first day of the north american international auto show in detroit....
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Jan 18, 2013
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government takes on a lot of risk no matter what. as it is now the big wall street banks have this deal where it's heads they win, tails the taxpayer loses. the taxpayer should actually be getting some of the return that goes along with that risk. and right now we're not. the taxpayer is left holding the bag when the big banks go get in trouble. but we're not getting the upside of that. wand the sovereign wealth fund you could get the upside as well. >> professor, broader based question for you, the three periods in the last 70 years where we've had expansions of p/e multiples, strong capital spending, have all been ones when we've had positive real interest rates, and very stable monetary and public policy. the '50s, the '80s and the '90s. don't we want to get away from the public sector getting involved in these capital markets? isn't that what ultimately will encourage private capital formation? why would we want a sovereign wealth fund to do what the fed's doing? why do we want that done at all? >> it's the other way around. when
government takes on a lot of risk no matter what. as it is now the big wall street banks have this deal where it's heads they win, tails the taxpayer loses. the taxpayer should actually be getting some of the return that goes along with that risk. and right now we're not. the taxpayer is left holding the bag when the big banks go get in trouble. but we're not getting the upside of that. wand the sovereign wealth fund you could get the upside as well. >> professor, broader based question...
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Jan 16, 2013
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i mean, there's got to be efficiencies found in the federal government. the fact that we're cutting spending doesn't mean that we don't continue to provide services to people. >> but it will take date where the spending cuts i made is the point he's making. you can talk about military cuts which is what he would i think be going after as opposed to the entitlement cuts that the republicans want to go after, but he sees that as an affront to the role of government in americans' lives right now. >> i know. he's not being realistic about where the spending is going though. we can freeze things across the board and probably make some advances here and just say whatever you had last year you'll have to live within your means next year with the same numbers of dollars, and actually not have legitimate cuts. we've got to do some drastic things. yeah, he talks about shared sack nice. everything should be on the table, including entitlements. you can't solve the deficit problem and our debt ongoing unless we in fact reduce our spending. the math doesn't work. >> l
i mean, there's got to be efficiencies found in the federal government. the fact that we're cutting spending doesn't mean that we don't continue to provide services to people. >> but it will take date where the spending cuts i made is the point he's making. you can talk about military cuts which is what he would i think be going after as opposed to the entitlement cuts that the republicans want to go after, but he sees that as an affront to the role of government in americans' lives right...
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Jan 18, 2013
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clean tech to be successful depends on government subsidies and life sciences to be successful. it depends on low regulation. >> that makes a lot of sense. >> low regulation and low subsidies these last couple of years. >> greg, you're saying venture funding may have declined, but you're expecting the activity to pick up in 2013 because of health i.t. that's your space. >> look at health care specifically, life sciences was the biggest decliner by 16%. there was a decrease in investment, but if you look at specifically health care, digital health care i.t., it increased -- investment increased over 50%, so we're seeing huge shifts of money from life sciences and medical devices into health care i.t. where the quickest innovation has happened. >> do you agree with john's premise that those that suffered the most were those -- the benefit from government subsidies trying to jump start those areas like clean technology, for example? >> yeah, and a lot of it, if you look back in history to 2007 and 2009, given that venture capital is a long-term investment has to deal with what was
clean tech to be successful depends on government subsidies and life sciences to be successful. it depends on low regulation. >> that makes a lot of sense. >> low regulation and low subsidies these last couple of years. >> greg, you're saying venture funding may have declined, but you're expecting the activity to pick up in 2013 because of health i.t. that's your space. >> look at health care specifically, life sciences was the biggest decliner by 16%. there was a...
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Jan 15, 2013
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you're also totally dysfunctional as a government. you proved that, and so since you love debt and you're going to go to 20 trillion in ten years, we love you. you're a big country. we love your t-bills, still use them, still buy them, but interest rates now will have to go up because we want more money for our money. interest rate will kick up. inflation will kick up and the guy that gets the green weenie is the little guy. the guy who gets screwed is the middle class that everybody talks about all day. what fakery? what disgusting fakery. >> yeah. >> and that's what's going to happen. and don't forget. the interest we pay right now is about 220 billion. >> yeah. >> if we go back to the interest rates in normal times in the '90s, in ten years we'll be paying $1 trillion a year in interest which goes not to education. doesn't help our kids. doesn't help with health care. it helps the countries that loan us the money. >> and with that spike in interest rates goes along with a real market disruption, i guess, in equities. a pretty good
you're also totally dysfunctional as a government. you proved that, and so since you love debt and you're going to go to 20 trillion in ten years, we love you. you're a big country. we love your t-bills, still use them, still buy them, but interest rates now will have to go up because we want more money for our money. interest rate will kick up. inflation will kick up and the guy that gets the green weenie is the little guy. the guy who gets screwed is the middle class that everybody talks...
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Jan 18, 2013
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the china related stocks are best located in safe countries with better governance. u.s., australia, singapore, and places like that. so yeah. there is a handful of stocks that make sense to me to play this game. >> here are the ones we're looking at now. i also like you're looking beyond just china for other plays within asia whether it's korea or singapore. give me your thoughts on those and also, you know, give me a thought on the ewj. give me a thought on japan. >> well, i'm involved in japan through real estate. japan is growing obviously slowly. is going to continue that way. but there's a lot of japanese investment in china. there is a huge amount of korean investment in china and in the tech sector. korea is basically samsung and about half the phones in china have samsung stamped on them. singapore is the banks that are increasingly financing chinese growth. australia is cold. lng and other materials, new zealand the same. hard materials from indonesia basically china gets its materials from south asia and its technology and capital from north asia. so if yo
the china related stocks are best located in safe countries with better governance. u.s., australia, singapore, and places like that. so yeah. there is a handful of stocks that make sense to me to play this game. >> here are the ones we're looking at now. i also like you're looking beyond just china for other plays within asia whether it's korea or singapore. give me your thoughts on those and also, you know, give me a thought on the ewj. give me a thought on japan. >> well, i'm...
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Jan 18, 2013
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government controlled healthcare. i don't think that's the best way to go. >> thank you for the book "conscious capitalism." even though you're an ba billionaire, that's all right. >> i'm working on it. >> simon? >> nice interview, ty. thank you. >>> an interview oprah that he used performance enhancing drugs. is the game over for the cyclist or can the public forgive him? can he rejuvenate the brand? that's coming up in the power rundown. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. [ male announcer ] how do you make 70
government controlled healthcare. i don't think that's the best way to go. >> thank you for the book "conscious capitalism." even though you're an ba billionaire, that's all right. >> i'm working on it. >> simon? >> nice interview, ty. thank you. >>> an interview oprah that he used performance enhancing drugs. is the game over for the cyclist or can the public forgive him? can he rejuvenate the brand? that's coming up in the power rundown. at 1:45, the...
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Jan 15, 2013
01/13
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we have a fundamental shift where the government is going to pay if you go into the hospital. usage is going up dramatically, plus the company has been doing a great job. hold it. it's going higher. >> murphy, they're trading at levels they've not seen since september, 2008, highest level in four years. >> i think when you look at this name, you have to look at what they're doing. i think you're going have a shortage for food in the very near future with monsanto. monsanto is a name you should old. you should definitely buy it. >> all right. >> we are just minutes away from facebook's big event, and we want your instant reaction. tweet us your thoughts to cnbcfastmoney and we'll reveal your best comments tonight at 5:30. >> there's lick kely to be a lo of. >> there's no shortage of food in the murphy house, is there? >> what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go...
we have a fundamental shift where the government is going to pay if you go into the hospital. usage is going up dramatically, plus the company has been doing a great job. hold it. it's going higher. >> murphy, they're trading at levels they've not seen since september, 2008, highest level in four years. >> i think when you look at this name, you have to look at what they're doing. i think you're going have a shortage for food in the very near future with monsanto. monsanto is a name...
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Jan 18, 2013
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. >> we've got breaking news from the federal government. senior economics reporter steve liesman has the story. >> the fed is supposed to release this morning the transcript from 2007. those are the ones where they tell you who said what during meetings. an unusual amount of attention to these, because this is the first response of the federal reserve to the crisis which you remember began in the summer of 2007. what are we going to be looking for? what folks were saying in three emergency meetings. three rate cuts totaling 1%. and of course, there was a big debate, inflation versus response to the financial crisis on august #th. putting out a statement saying the main concern was inflation, three days later the federal reserve said it would provide reserves as necessary to combat the financial crisis. here's why this is going to be historically important. the first declines there in 2007, then what we'll do is overlay inflation on this. you can see what the fed was dealing with at the time. you had rising inflation at the time. at the same
. >> we've got breaking news from the federal government. senior economics reporter steve liesman has the story. >> the fed is supposed to release this morning the transcript from 2007. those are the ones where they tell you who said what during meetings. an unusual amount of attention to these, because this is the first response of the federal reserve to the crisis which you remember began in the summer of 2007. what are we going to be looking for? what folks were saying in three...
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Jan 18, 2013
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the government and the boj reached a basic deal on an upcoming statement. the statement would call for the boj to adopt a 2% inflation target and will define the government's role in fighting deflation. japan's finance and economy ministers met with the boj governor for the final talks and the boj will formally commence to this next tuesday. after today's meeting, the finance minister called monetary policy although it won't resolve jap japan's flowing economy, he said it needs to be paired with fiscal policy and an economic growth strategy. back to you, kelly. >> fascinating story, i have to say. thank you very much. >>> stick around. ahead on the program, glencore and xstrata are putting their mega merger on hold again. find out more from carolin roth when we come back. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ m
the government and the boj reached a basic deal on an upcoming statement. the statement would call for the boj to adopt a 2% inflation target and will define the government's role in fighting deflation. japan's finance and economy ministers met with the boj governor for the final talks and the boj will formally commence to this next tuesday. after today's meeting, the finance minister called monetary policy although it won't resolve jap japan's flowing economy, he said it needs to be paired...
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Jan 16, 2013
01/13
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bigger key people preoccupied with the government. connell: at the white house, vice president biden and the president. >> before i begin today, let me say to the families of the innocents that were murdered 33 days ago. our heart goes out to you. you show incredible courage. incredible courage being here and the president and i will do everything in our power to honor the memory of your children and your wives with the work we take appear today. it has been 33 days and the nation's heart was broken by the horrific, senseless violence that took like at sandy hook elementary school. twenty beautiful first-graders gone down in a place that is supposed to be there second sanctuary. six, six members of the staff killed trying to save those children. it has literally been hard for the nation to fathom. i know for the families who are here, time is not measured in days. another minute without your daughter, another minute without your son, another minute without your wife, another minute without your mom. i want to personally thank chris an
bigger key people preoccupied with the government. connell: at the white house, vice president biden and the president. >> before i begin today, let me say to the families of the innocents that were murdered 33 days ago. our heart goes out to you. you show incredible courage. incredible courage being here and the president and i will do everything in our power to honor the memory of your children and your wives with the work we take appear today. it has been 33 days and the nation's heart...
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Jan 23, 2013
01/13
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the government doesn't work this fast. i worked for them. former irs accountant dee dee stone, now in private practice, was handling the books for this man, ron allen, who controlled a string of limited partnerships in dallas. >> these companies had no sales, but they had all the loans, and the only assets they had were receivables from other related companies. >> convinced the whole thing was a ponzi scheme, she snuck into the office on a weekend and found all the evidence in one drawer. >> you could see where the money was coming in from investors and being transferred out to his companies and to his wife. >> were you scared? >> i was. i was terrified. it was a sunday so it wasn't real likely anyone was going to come in. >> no one came in and stone brought her findings to the s.e.c. in april, 2011, a federal judge shut down what the s.e.c. called an $8 million ponzi scheme. without admitting guilt ron allen and his wife agreed to pay more than half a million dollars and dee dee stone collected a bounty under the new s.e.c. whistle-blower p
the government doesn't work this fast. i worked for them. former irs accountant dee dee stone, now in private practice, was handling the books for this man, ron allen, who controlled a string of limited partnerships in dallas. >> these companies had no sales, but they had all the loans, and the only assets they had were receivables from other related companies. >> convinced the whole thing was a ponzi scheme, she snuck into the office on a weekend and found all the evidence in one...
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Jan 16, 2013
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member of the ecb governing council, as well. you see the spike -- we had the session chart, what i was looking for. you would have seen a spike up. we're currently trading at 1.3321. we're sort of 1.3220 before he dismissed comments from the euro group chairman yesterday saying the exchange rate was dangerously high in terms of euro/dollar. he said the euro rate was not a concern and says he thinks banks are far less rely ant on ecb funding. those things helping the euro into positive note for the session. on a downbeat side, expressing the weakness in the eurozone. we had poor european car registrations, down % in december, vomgs for the eurozone alone, down 11% to nine million. sharply lower than the vehicles sold in the previous two years, as well. some stocks that are down, daimler off, renault down .75%. italian sales, poor. bmw the standout, up .4. there were only two countries in the whole of the e.u. where they improved new car registrations, one was the u.k. although the wider economy is fairly weak. and with bond yield
member of the ecb governing council, as well. you see the spike -- we had the session chart, what i was looking for. you would have seen a spike up. we're currently trading at 1.3321. we're sort of 1.3220 before he dismissed comments from the euro group chairman yesterday saying the exchange rate was dangerously high in terms of euro/dollar. he said the euro rate was not a concern and says he thinks banks are far less rely ant on ecb funding. those things helping the euro into positive note for...
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Jan 18, 2013
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we'll be resolute in our determination to fight terrorism and stand with the algerian government who have paid a heavy rice fighting against a savage terrorist campaign this is a continuing situation and we'll do our best to keep parliament and the public updated. we hope to reach a conclusion shortly. and there will be a moment to learn, and i commend the statement to the house. >> mr. speaker, can i stant by saying with this statement. on behalf of the opposition, that the government has our full support. >> british prime minister david cameron talking about the hostage crisis in algeria. a raid where some hostages freed and some hostages killed. a few more details about how some managed to escape. forgive me for reading off my computer here. some actually disguised themselves as part of a catering company to sneak out during moments of chaos and managed to get through. one french national hid under a bed for more than 40 hours. a terrifying situation there. david cameron, who has expressed some regret that the british government wassan uninformed of the hostage raid to free them b
we'll be resolute in our determination to fight terrorism and stand with the algerian government who have paid a heavy rice fighting against a savage terrorist campaign this is a continuing situation and we'll do our best to keep parliament and the public updated. we hope to reach a conclusion shortly. and there will be a moment to learn, and i commend the statement to the house. >> mr. speaker, can i stant by saying with this statement. on behalf of the opposition, that the government...
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Jan 18, 2013
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focus on government spending, those automatic government spending cuts that are supposed to hit at end of the february known as sequester. all of that starts the spending fight now, republicans say. move onto the debt ceiling to give at least a little bit more certainty or calm economic panic for the next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the deb
focus on government spending, those automatic government spending cuts that are supposed to hit at end of the february known as sequester. all of that starts the spending fight now, republicans say. move onto the debt ceiling to give at least a little bit more certainty or calm economic panic for the next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're...
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Jan 23, 2013
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the potential for the federal government to shut down. i think many people underestimate the significance of the federal government as a part of, you know, what drives the u.s. economy. melissa: so what could they be doing you think to make things better? what could turn things around from a trucking perspective? >> i think in recent history, anytime our leaders here in washington make, you know, get a decision made, even if it is not what everybody likes or agrees with, the more certainty there is in the business community, the more likely we are to see investment and people making plans about moving forward. i mean i think it is too early to tell how consumer sentiment and consumer behavior is going to be impacted by the, by the tax increases. i mean everybody saw the 2% hit on the payroll tax expiration, what, a little less than 1% on the health care costs. so, we just don't know yet. that impacts us directly because we move a the of retail goods by truck. melissa: but, you know a lot of people out there think that the economy is getti
the potential for the federal government to shut down. i think many people underestimate the significance of the federal government as a part of, you know, what drives the u.s. economy. melissa: so what could they be doing you think to make things better? what could turn things around from a trucking perspective? >> i think in recent history, anytime our leaders here in washington make, you know, get a decision made, even if it is not what everybody likes or agrees with, the more...
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Jan 15, 2013
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i think the government should be doing this. the question is, is it important enough for us to pay for it or are we simply going to move that burden down to our kids? this is not designed to be a delay or a poison pill. it's designed to have a conversation about whether we're going to go to other places to take care of our own people. >> there's already been so much discussion over how long it's taken. for instance, aid to katrina went much quicker than aid to sandy is coming, as if there is any at all. do we need to -- you know how difficult it is to get cuts of any kind. that's going to mean relief for future disasters is going to take longer, isn't it? >> keep many mind, just yesterday on the house floor we passed something by an overwhelmingly bipartisan majority that actually gave the president some additional authority to move things along faster. i think we're learning from the lessons. i agree that things have gone too slowly. the amendment i'm offering will not offer a delay. it's a discussion about how things get paid.
i think the government should be doing this. the question is, is it important enough for us to pay for it or are we simply going to move that burden down to our kids? this is not designed to be a delay or a poison pill. it's designed to have a conversation about whether we're going to go to other places to take care of our own people. >> there's already been so much discussion over how long it's taken. for instance, aid to katrina went much quicker than aid to sandy is coming, as if there...
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Jan 16, 2013
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whether it is an outright default, a shutdown of the government? do either of those things seem very likely to you? >> neither of them are good things to have happen. but the president is going to have to be willing to talk about spending. we addressed the revenue issue on the bill that we passed january 1st in the congress. we've now put the revenue issue to bed. it's time we put the spending issue to bed. we have to begin to cut our discretionary spending and reform our entitlement programs if we ever hope to reduce our national debt and get more in balance in this country. if you just continue to extend the debt limit without restricting spending, you're going to have yourself where you have compound interest on negative debt which is wrong for the united states of america. >> finally, on gun control, senator, we'll see what the president says at the top of the hour. he is expected to lay out some legislative proposals, some executive steps to prevent gun violence. is it clear to you that either of -- anything of what he's going to propose will
whether it is an outright default, a shutdown of the government? do either of those things seem very likely to you? >> neither of them are good things to have happen. but the president is going to have to be willing to talk about spending. we addressed the revenue issue on the bill that we passed january 1st in the congress. we've now put the revenue issue to bed. it's time we put the spending issue to bed. we have to begin to cut our discretionary spending and reform our entitlement...